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“The credit term for our trade receivables is less than three months, ” he added.

The group’s current ratio is 5.9 times, based on existing assets of RM197.7mil and current liability of RM33.5mil.

MMS Ventures Bhd managing director T.K. Sia said the group’s net cash was about RM22mil, sufficient to cover its business operations and working capital for two to three years.

“The credit term of our trade receivables is about three months, while that of our current ratio is 15 times, ” he added.

According to Digitimes Research new smartphone report, the global shipment of smartphones is projected to drop to 1.15 billion units in 2020, down 15.4% from 2019’s 1.36 billion because of the impacts from the coronavirus pandemic.

“Weak end-market demand will undermine smartphone brands’ orders to original design manufacturers (ODMs) in the year with overall smartphone ODM shipments in 2020 to slip 13.6% on year to arrive at only 260 million units, ” according to Digitimes Research.

Digitimes Research says the worldwide top three smartphone ODMs are China-based Wingtech, Huaqin and Longcheer, and the three manufacturers are expected to continue expanding production capacities in China, South-East Asia and India in 2020.

According to the report, the three ODMs’ combined share of global smartphone shipments in 2020 is expected to rise to a new record.

“Still, each of them will see shipments in the year slip over 10% on year because of the pandemic’s impact on consumers’ demand for smartphones.

“Apple and Vivo are still developing their smartphones completely in house, and therefore, ODMs have been striving keenly for 4G and 5G smartphones orders from brands such as Samsung Electronics, Huawei, Oppo, Xiaomi and Lenovo, ” according to Digitimes Research.

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